Company Registration No. NI612063 (Northern Ireland)
Clogher Valley Windows Limited
Companies House accounts
for the year ended 31 May 2023
Clogher Valley Windows Limited
Companies House accounts
Contents
Clogher Valley Windows Limited
Company Information
for the year ended 31 May 2023
Company Number
NI612063 (Northern Ireland)
Registered Office
160 Corkhill Road
Eskra
Omagh
Tyrone
BT78 1UP
N Ireland
Accountants
Allan Montgomery & Co
100 Main Street
Fivemiletown
Co Tyrone
BT75 0PW
Clogher Valley Windows Limited
Statement of financial position
as at 31 May 2023
Tangible assets
48,324
60,398
Cash at bank and in hand
79,283
113,289
Creditors: amounts falling due within one year
(187,125)
(164,275)
Net current assets
100,521
87,808
Total assets less current liabilities
148,845
148,206
Provisions for liabilities
Deferred tax
(9,182)
(11,475)
Net assets
139,663
136,731
Called up share capital
100
100
Profit and loss account
139,563
136,631
Shareholders' funds
139,663
136,731
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 March 2024 and were signed on its behalf by
Kieron J Egerton
Director
Company Registration No. NI612063
Clogher Valley Windows Limited
Notes to the Accounts
for the year ended 31 May 2023
Clogher Valley Windows Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI612063. The registered office is 160 Corkhill Road, Eskra, Omagh, Tyrone, BT78 1UP, N Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention and Section 1A of Financial Reporting Standard 102 applicable to small entities.
The accounts are presented in £ sterling.
Turnover and income recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Income is recognised when goods and services have been provided to customers such that risks and rewards of ownership have been transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is amortised at 10% per annum on a straight line basis.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Clogher Valley Windows Limited
Notes to the Accounts
for the year ended 31 May 2023
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 June 2022
34,910
81,781
116,691
At 31 May 2023
34,910
81,781
116,691
At 1 June 2022
25,419
30,874
56,293
Charge for the year
1,897
10,177
12,074
At 31 May 2023
27,316
41,051
68,367
At 31 May 2023
7,594
40,730
48,324
At 31 May 2022
9,491
50,907
60,398
Clogher Valley Windows Limited
Notes to the Accounts
for the year ended 31 May 2023
Amounts falling due within one year
Trade debtors
67,913
92,759
Amounts due from group undertakings etc.
50,141
-
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
30,565
40,262
Obligations under finance leases and hire purchase contracts
16,504
22,328
Trade creditors
128,988
89,685
Taxes and social security
2,982
5,237
8
Deferred taxation
2023
2022
Accelerated capital allowances
9,182
11,475
Provision at start of year
11,475
10,276
(Credited)/charged to the profit and loss account
(2,293)
1,199
Provision at end of year
9,182
11,475
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).